Aspida Completes Acquisition Of U.S. Based Insurance Platform
07/15/21, 10:31 AM
Aspida Holdings Ltd. (“Aspida”), an indirect subsidiary of Ares Management Corporation (“Ares”) (NYSE: ARES), announced today that it has closed on the acquisition of Global Bankers Insurance Group, LLC, a U.S. based insurance service provider and operations company (the “Company”). The acquisition is pursuant to the regulatory and court approved settlement agreement related to Aspida’s previously disclosed transaction with Pavonia Life Insurance Company of Michigan. Going forward, the Company will be rebranded as Aspida Financial Services, LLC (“Aspida Financial”).
Company Info
Company info
Aspida Holdings Ltd. (“Aspida”) is an indirect subsidiary of Ares Management Corporation, which was created to execute on Ares Insurance Solutions' plans to issue insurance and reinsurance products for individuals and institutions seeking to fund their long-term financial needs. Aspida employs a talented team of experienced insurance professionals who leverage innovation and technological advancement to drive change. Its cutting-edge platform is geared at providing insurance solutions with speed and simplicity, creating elegant digital experiences. With $2.3 billion in assets under management, as of March 31, 2021, and supported by a team of over 100 insurance industry professionals, Aspida seeks to be a trusted partner focused on its clients’ financial security and success. For more information, please visit: www.aspida.com.
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